State Councilor Yang Jing hosted a meeting to promote the share of private investment in the country’s economy on May 19.

The meeting discussed ways to use monitoring and inspection work, which is in line with China’s top leadership’s instructions to develop non-public economy and promote private investment.

For a long time, private economy played a significant role in stabilizing growth, advancing innovation, adding jobs, and improving people’s livelihoods, Yang said.

But since the fourth quarter of 2015, private investment has slowed down due to multiple factors. So efforts should be made to improve administrative service, create favorable market environment, figure out problems that hinder private investment, and improve related policy measures, he said.

In addition, policies should be strengthened to inject confidence and promote healthy development of private investment, Yang said.